William Blair Investment Management LLC Has $204.33 Million Stock Holdings in Mueller Industries, Inc. $MLI

William Blair Investment Management LLC trimmed its position in shares of Mueller Industries, Inc. (NYSE:MLI) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,779,906 shares of the industrial products company’s stock after selling 214,969 shares during the quarter. William Blair Investment Management LLC owned approximately 1.60% of Mueller Industries worth $204,333,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its stake in shares of Mueller Industries by 121.1% during the third quarter. JFS Wealth Advisors LLC now owns 252 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of Mueller Industries during the fourth quarter valued at about $27,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Mueller Industries by 228.7% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 309 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 215 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Mueller Industries during the third quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Mueller Industries by 108.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 501 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 261 shares during the period. 94.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mueller Industries

In other Mueller Industries news, CEO Gregory L. Christopher sold 103,266 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $137.29, for a total value of $14,177,389.14. Following the transaction, the chief executive officer directly owned 804,911 shares of the company’s stock, valued at approximately $110,506,231.19. The trade was a 11.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Mueller Industries Price Performance

Mueller Industries stock opened at $133.29 on Friday. The stock’s 50 day moving average is $123.76 and its 200 day moving average is $119.67. The firm has a market cap of $14.74 billion, a P/E ratio of 17.45 and a beta of 1.13. Mueller Industries, Inc. has a one year low of $72.16 and a one year high of $141.51.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.67. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Mueller Industries had a return on equity of 25.97% and a net margin of 19.37%.The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share.

Mueller Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, June 5th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.40 annualized dividend and a yield of 1.1%. Mueller Industries’s payout ratio is 18.32%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MLI. Wall Street Zen raised Mueller Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mueller Industries in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Mueller Industries Company Profile

Mueller Industries, Inc is a diversified manufacturer and marketer of copper, brass, aluminum and plastic products. Headquartered in Memphis, Tennessee, the company serves a wide range of markets including HVAC (heating, ventilation and air conditioning), refrigeration, plumbing, industrial gas, automotive and agricultural sectors. Its product portfolio encompasses copper and plastic tubing, brass fittings, valves and related components designed for fluid handling and temperature control applications.

The company operates through multiple business segments, including the Plumbing & Refrigeration segment, which supplies copper and plastic tubing, fittings and valves for residential and commercial construction markets; the Industrial Metals & Mining segment, which provides aluminum shapes and specialty brass products for industrial applications; and the Climate segment, which focuses on copper tubing and components for air conditioning and refrigeration systems.